Travis County Commissioners Court
Tuesday, November 29, 2011 (Agenda)
Health Facilities Development Corporation
9:00 A.M. – PUBLIC HEARING ONLY
>> good morning.
let's first of all call to order the health facilities development corporation.
item no.
1 is a public hearing that we posted to begin at 9:00 a.m.
and so we'll take that item and then recess the corporation until 1:30 this afternoon.
>> move that the public hearing be opened.
>> second.
>> all in favor?
that -- that passes by unanimous vote.
>> [laughter] item no.
1, public hearing to receive comments regarding issuance of the corporation's first mortgage revenue refunding bonds, longhorn village project, series 2012.
>> hi, good morning,
>> [indiscernible], corporation's manager.
I'll let cliff blunt give you his spiel.
>> just very briefly, cliff blunts with neaman how we will, this is a refunding for the project that will be more detail at 1:30, this is a hearing and as published in the code 14 days ago.
>> by refunding bonds we mean.
>> we financed several years ago the original bonds to construct the facility and -- and I guess with the bonds market changing they are more beneficial to the project, so we will have more information about that at 1:30, essentially what they are doing is refunding that's financially beneficial to the project.
>> court members, questions or comments?
>> longhorn is a low income -- low income housing for senior citizens, correct?
>> low and moderate and -- well, it's not -- it was not done under low and moderate provisions.
it's done at a 501 c 3 for senior citizens under the health facilities development act.
>> thank you.
>> would anyone like to give comments during this public hearing?
if so, please come forward.
>> move that the public hearing be closed.
>> all in favor?
that passes by unanimous vote.
I move that we recess the health facilities development corporation until 1 r.
30 this afternoon.
all in favor in that carries by unanimous vote, also.
1:30 this afternoon.
I'm not sure there's any reason to come back.
have we received any written objections of any kind.
>> no.
>> > my guess is it will be a routine approval.
you all are welcome to come back with us.
>> I believe mr. Patillo and bond counsel are planning to be here if there were any questions.
I can call them and tell them it's not necessary.
>> I don't think we will have any questions.
I know you have billable hours that you have to get up to.
if you absolutely, positively, must be here, we understand.
>> thank y'all.
Now let's call together the health facilities corporation.
we had the public hearing at 9:00 a.m.
as advertised.
item 2, consider and take appropriate action on a, the issuance of revenue refunding bonds for the benefit of longhorn village, a continuing care retirement community located at.
>> 1 north quinlan park road.
b, a resolution authorizing the issuance of revenue refunding bonds for the benefit of longhorn village, and c, authorize the execution and delivery of all financing documents related to the issuance, sale and delivery of such bonds.
we had a public hearing this morning and nobody -- no member of the public appeared to give comments and so we just got the short presentation from staff.
any additional comments we should get?
>> well, I think one thing a few weeks ago when we approved the public hearing date, there was an issue about the application fee that the borrower had asked to waive that was not decided at that point.
I think the recommendation -- I'll let you speak, but the recommendation is to collect the $2,000 of it.
>> yeah, the application fee is $10,000, 2,000 of which would go to the corporation.
and the remainder would go to our counsel and our financial counsel, but I recommend that we don't waive that $2,000 fee.
it would be nice to have to cover staff time.
>> the balance that would be waived ends up getting paid for both lad patillo and I think lad and I are comfortable not getting that portion of it.
>> so instead of $10,000, the recommendation is to collect two.
to help cover our expenses.
>> correct.
to the corporation, there's no difference in the net result.
>> questions or comments?
>> move approval.
>> second.
>> with the --
>> with the $2,000 recommendation.
>> with the staff recommendation.
seconded by Commissioner Gomez.
discussion?
all in favor?
that passes by unanimous vote.
move adjournment.
>> second.
>> all in favor?
that carries unanimously also.
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